Monday, October 18, 2021

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CEO Margaret Keane Leaves Synchrony

Margaret Keane started working at the ripe age of 10 and did her first gig by offering a lending hand to a jeweler in her childhood neighborhood shop in Queens, New York. He paid her half a penny and Keane would work until her hands were sore and blistered to gather those precious $10.

Now 51 years later Synchrony announced that its CEO Margaret Keane will step down and act as executive chair for the 21 billion credit card provider’s Board of Directors. This means that the S&P 500 index will have one less female chief executive, reducing the number from 30 to 29.

Regarding her decision to resign Keane said that she is hopeful that her successor will do a good job. She mentioned that it is all part of the growth and is necessary in order to allow young talent to bloom and prosper in their career, to constantly learn and polish their skills so that they can take on bid leadership roles with ease and excellence.

She shared that it is crucial to allow women to lead from high profile corporate positions so that it gives a message of equal opportunity for all and advocates diversity. It also helps in eliminating biases and stigmas and creates a brighter and better future for them.

The company has managed to accomplish big goals and reach new heights of success under her constant guidance and direction. It has launched co-branded credit cards with huge brands like Amazon and Verizon etc. and enjoyed an increase in the price of its shares by almost 60 percent.

She stated that her most proud moment was promoting a corporate culture that focuses on Synchrony Financials norms and values and has played a significant role in getting the company to where it stands today.

She said that future ventures might include having our own little olive farm maybe since we’ve just finished planting 3000 trees which sounds compelling and captivating.

Keane said that she is ready to embark on a new journey in her life and rather than look after the business will spend more time with family and friends, traveling and exploring the world.

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